Chinese DNA Researcher Said to Plan $400 Million Hong Kong IPO

BGI Tech, a unit of the world’s biggest DNA-sequencing group, plans to seek about $400 million from an initial public offering in Hong Kong, said two people with knowledge of the matter.

Citigroup Inc. and Morgan Stanley are arranging the share sale, said the people, who asked not to be identified because the information is private. BGI Tech, controlled by Shenzhen-based BGI, aims to start the offering in the fourth quarter, they said.